Guargum prices dropped by Rs 97 to Rs 6,026 per quintal in futures trading today as participants indulged in booking profits amid a weak trend at the domestic spot as well as overseas markets.
Besides, a fall in export demand too dampened trading sentiment.
Marketmen said, selling by participants at prevailing levels, triggered by a weak trend at the physical markets on increased arrivals of guarseed from growing regions, mainly dragged down guargum prices at futures trade.
At the National Commodity and Derivatives Exchange, guargum for delivery in January dipped by Rs 97, or 1.58 per cent, to Rs 6,026 per quintal, with an open interest of 37,955 lots.
In a similar fashion, delivery in far-month February lost Rs 88, or 1.42 per cent, to Rs 6,100 per quintal, clocking an open interest of 9,095 lots.
Disclaimer: No Business Standard Journalist was involved in creation of this content
